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SCHEDULE 3INSURANCE COMPANIES: COMPANIES ACT INDIVIDUAL ACCOUNTS

PART 2ACCOUNTING PRINCIPLES AND RULES

SECTION AACCOUNTING PRINCIPLES

Preliminary

15.  But if it appears to the company’s directors that there are special reasons for departing from any of those principles in preparing the company’s accounts in respect of any financial year they may do so, in which case particulars of the departure, the reasons for it and its effect must be given in a note to the accounts.